My daughter is an AU on one of my cards and the object is NOT to help her credit score. It is to allow her to have an emergency card if she ever has problems with traveling or anything, and to allow me to help her financially sometimes at a distance.
And she knows, and I know, that I see every penny she spends on it 
I have been preparing for FICO 08 for nearly a year
marty56 wrote:With FICO 08 looming, it my be prudent to move way from it. If FICO08 is still a while away, so much the better.
@RobertEG wrote:
Smallfry and Byrd, I hear you, and understand your reasons.But let me put forth a scenario.......One of the "buckets" in FICO is short credit history. That puts son/duaghter into the historical bucket that represents averages. Suddenly, they jump buckets by "achieving" a bigger and shinier bucket, leaving the old oaken bucket behind. If all Moms and Pops put their offspring on as an AU, it would virtually eliminate one of the 12 FICO buckets, making the whole system more of a joke than it already is.FICO is based upon past history. To game that history is to skew everythiing for all of us, putting one into my bucket that has not earned the risk associated with it by demonstrating their status in fulfiliing that risk on their own, in the way that FICO has historically assesed their risk.Give 'em your own hugs and kisses, but not at the expense of others who have paid for their own.
Message Edited by RobertEG on 05-19-2008 07:45 PM
I see both sides of the argument too. However, I still go back to my argument about parents giving gifts of $$ that weren't earned either. Person A (22 yrs old) graduates college and parents give him $50,000. Person B (22 yrs old) graduates college and parents were just lucky enough to have the $$ to send him to college. Person A is able to purchase a home within the year with money he didn't EARN. Person B will rent for some time, as he scrapes together his pennies to try to get a down payment. I think that this is a good analogy. What ever is the difference?
BTW Robert, not EVERYONE is going to do this ever in anyone's wildest imagination, so there is no way that bucket will ever be eliminated. In fact, the majority of people won't even do it, so that bucket is in no danger.
To the other poster whose son purchased a house on his own at 19--congratulations. Your son is in a very select class indeed. Because most 19 year olds don't qualify to purchase their own home. That's just not the reality for everyone.
Starting Score: 469
I won't resist at all with DD #1. She is extremely responsible. Now, the next two are a different story. Those boys are the most absent-minded individuals that I have ever seen. Part of that is a function of being 14 and 12, but I promise you, I have to remind them of EVERYTHING!
